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The market is slowing – but here’s the home with 28 offers last week

By June 19, 2024

Graph of new listings by week in Seattle and Eastside as of June 15th, 2024
Weekly Market Commentary

We’re surprised buyer activity the last two weeks has been roughly equal to the week after the Memorial Day slowdown. Normally we see buyer interest mostly rebound, then taper off as we enter July and August. But this year, buyer interest hasn’t rebounded at all (see the graph below – homes going pending by week). So we continue to believe the market will become increasingly challenging for sellers but there will be more opportunities for buyers; except for buyers looking for a single-family home under $1m Here are a few sub $1m anecdotes from last week – our new Whittier Heights listing at $899k has been busythis $700k QA home had 7 offers and this $625k Greenwood craftsman had 28 offers!


Sellers are still busy with new listings

Seattle: 362 new listings last week, up 4.3% w-o-w
Eastside: 230 new listings last week, down 7.6% w-o-w

Where are the buyers?

Seattle: 165 pending last week, flat w-o-w
Eastside: 157 pending last week, up 17.2% w-o-w

Eye candy

$25m Magnolia modern

$2.75 Mercer Island midcentury modern

$1.9m downtown penthouse designed by Pulp Studios

$1.6m Bainbridge Island modern remodel

Eye Candy <$1m

$850K Jackson Park midcentury modern

$985K Snoqualmie ski Cabin

I own and manage Urban Living, a boutique Seattle and Bellevue real estate brokerage. I love lofts, floating homes, new construction, and mid-century moderns, but I will help you buy or sell just about anything!

Get in touch to:

  • Understand the market
  • Find your perfect home
  • Sell your home